Over a century ago, an interscholastic athletic league was formed by Harvard, Yale, Columbia and Princeton. It was officially known as the "Four League." The Roman numeral "IV" was often used instead of the word four and the term "IV League" came into use. When spoken, the IV was spelled out and sounded like "Ivy League." Brown, Dartmouth, Cornell and Pennsylvania were the major opponents of the IV league, and in the early 1900's were members of the league.
IV is pronounced Ivey